The euro demonstrated weakness during the Friday’s trading session. The monetary policy outlook and concerns about economic growth made currency not particularly attractive to investors while the result of the Greek parliamentary elections did nothing to help the matter. The elections over the weekend resulted in the victory of the Syriza-led coalition, meaning that Prime Minister Alexis Tsipras remains in power. While it had little immediate impact on the euro, the result of the voting is not … “Euro Weak After Greek Elections”
Month: September 2015
AUD/USD: Trading the Chinese Caixin PMI Sep 2015
Chinese Caixin Flash Manufacturing PMI is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in China, and a reading which is higher than the market forecast is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes … “AUD/USD: Trading the Chinese Caixin PMI Sep 2015”
GBP/AUD Worlds Apart
The commodity price collapse was well underway in early March when the PBOC reported GDP annualized growth had fallen to 7%, the lowest read in six years . This was on the heels of two PBOC benchmark rate cuts in the last 5 months. At the previous Reserve Bank of Australia monetary policy meeting, 8 … “GBP/AUD Worlds Apart”
Best MT4 broker in the UK Forex Awards 2015 goes
Admiral Markets was awarded the best MetaTrader broker in the 2015 UK forex awards. Here is more information from the official pres release: Admiral Markets faced some stiff competition in the most prestigious category but thanks to the unique MetaTrader 4 Supreme package was able to clinch the award. The awards ceremony was held on … “Best MT4 broker in the UK Forex Awards 2015 goes”
GBP/JPY Pauses Recovery, Vulnerable To The Downside
GBPJPY: The cross closed almost flat the past week (see weekly chart) after failing to follow through higher on the back of its previous week gains.Additionally, it printed a rejection candle on Thursday and followed through lower on Friday. This price action development leaves GBPJPY vulnerable to the downside as long as its trades and … “GBP/JPY Pauses Recovery, Vulnerable To The Downside”
EURUSD: Caps Recovery, Risk Turns Lower On Price Failure
EURUSD: Having EUR closed lower on price failure at 1.1459 level to print a rejection candle the past week, further weakness is envisaged in the new week. As long as the mentioned overhead resistance holds as resistance, our bias continues to point lower. Support lies at the 1.1200 level where a violation will aim at … “EURUSD: Caps Recovery, Risk Turns Lower On Price Failure”
Fed Week Ends Poorly for Dollar
This trading week was not particularly positive for the US dollar as it fell against other majors as well as commodity currencies. The only major currency that has lost to the dollar was the euro. The Federal Reserve kept its monetary policy unchanged during its policy meeting and issued rather dovish remarks. The dollar tumbled on Thursday as a result. Yet the greenback staged a strong recovery the very next day, even managing … “Fed Week Ends Poorly for Dollar”
Canadian Dollar Fails to Rally
The Canadian dollar attempted to rally today but failed to do so against the US dollar and the Japanese yen, though it kept most of its gains versus the euro. There were two reasons for the underperformance: slowing inflation in Canada and the sharp drop of oil prices. Canada’s Consumer Price Index showed no change in August compared to July after rising 0.2 percent in the previous reporting period. The core CPI increased 0.1 … “Canadian Dollar Fails to Rally”
Stevens’ Comments Help Aussie to Bounce
The Australian dollar rose after hawkish remarks from the central bank’s head. It was the ninth gain in 10 business days against the Japanese yen and the sixth one in seven days versus the US dollar. Glenn Stevens, Reserve Bank of Australia Governor, was testifying before the House of Representatives Economics Committee today. While he mentioned concerns about slowing growth of China, his comments were considered hawkish by market … “Stevens’ Comments Help Aussie to Bounce”
Hungarian Forint Gains vs. Euro, Falls vs. Dollar
The Hungarian forint rallied against the euro on speculations that Standard & Poor’s is going to upgrade the outlook for the nation’s credit rating (though it has basically lost its gains as of now). The currency also attempted to rally versus the US dollar but failed. The forint gained versus the euro today amid speculations that S&P may change its outlook for Hungary’s credit grade to positive in its credit review due … “Hungarian Forint Gains vs. Euro, Falls vs. Dollar”